Arbe Robotics Announces $16M Underwritten Registered Direct Offering Of 11.5M Shares At $1.40/Share

Arbe estimates the gross proceeds from this offering to be approximately $16.1 million before deducting underwriting discounts and commissions and other offering expenses. Arbe expects to grant the underwriters a 30-day option to purchase up to an additional 1,725,000 ordinary shares at the public offering price, less underwriting discounts and commissions. The offering is expected to close on or about January 27, 2025, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds from this offering for working capital and general corporate purposes.